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Ruffer founder to step back from fund house

Ruffer founder to step back from fund house
 Jonathan Ruffer, chairman of Ruffer

Jonathan Ruffer is to step back from the day-to-day management of the fund house he founded as the company continues to move from “founder-led” to “team-led”.

Ruffer announced today (September 23) that Mr Ruffer, who founded Ruffer Investment Management, now Ruffer LLP, in 1994, would step down from the executive side of the company and hand over the helm to chief executive Clemmie Vaughan.

Mr Ruffer’s role in setting the firm’s investment strategy, alongside chief investment officer Henry Maxey, will remain unchanged. He will also continue as chairman, focusing on supervision and overall direction of the firm.

However, he will no longer be involved in implementing the firm’s strategy or the day-to-day running of the firm.

The changes will take effect on September 30.

Alongside Mr Ruffer’s move, the fund house is bolstering its five-strong executive team with three new members.

Omar Kodmani and Luka Gakic, co-heads of the firm’s client-facing department, and Gillian Van Maaren, head of HR, will join Ms Vaughan, Mr Maxey, chief operating officer Paula Water, chief financial office Myles Marmion and research director Miranda Best in the executive team.

Mr Ruffer said: “Since becoming chief executive in 2017, Clemmie has been forging a first-rate team. I see these developments as an indication that there is no shortage of wise heads and willing hands to take this business forward.”

Ms Vaughan said the firm was focused on delivering investment performance and service that “puts [its] clients first”, adding that the changes reflected the continuing development of Ruffer from a firm that was “founder-led” to one that was “team-led”.

Ruffer has about £20.4bn assets under management with more than 320 staff and offices in London, Paris, Hong Kong, Edinburgh and Guernsey.

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